The Pound Sterling has continued its decline against the Australian Dollar. The GBP/AUD exchange rate has lost over 500 base points of its values during the last week.
The currency pair breached both the 100– and 200-hour simple moving averages during the Asian session on Tuesday.
By and large, it is likely that the currency exchange rate continues its movement down until the pair reaches a support cluster at 1.7852.
A potential upside reversal could occur from the support cluster as mentioned earlier.
